And the loss of some key business information can also be a violation of the new business regulations, such as the Sarbanes-Oxley Act and the Health Insurance Portability and Accountability Act (HIPAA). "These carry penalties ranging from substantial fines to jail time for executives," Gold warned.

So far, none of these incidents have involved handheld mobile devices, but the potential is growing. Two major developments in what has been a niche market for handhelds and high-end smart phones are making Gold's prediction likely:

In particular, smart phones are becoming increasingly popular with knowledge workers and their employers. Increasing numbers of companies, particularly in the Global 2000, are either providing devices to mobile workers and executives for use both inside and outside the office or are supporting connectivity to devices the individuals buy for their own uses.

While the first focus of mobile computing use is e-mail access, increasing numbers of organizations are taking the next step, extending access to data in core corporate applications such as ERP, CRM and financial systems.

And while executives may only take laptops with sensitive data out of the office occasionally, they probably will carry their mobile devices with them every day, everywhere. These devices are very vulnerable to loss, ranging from just being left behind on a restaurant table or cab seat to being stolen from a jacket pocket or being snatched with a purse.